U.S. businesses posted a near-record level of open jobs in January, a trend that has pushed up worker's pay and added to inflationary pressures in the U.S.
Employers manned booths with banners promoting their companies benefits, free logo branded swag and listed salary pay scales and in some cases recruitment bonuses in order to entice job applicants to approach their booths during the Lee County Area Job Fair in Tupelo, Miss., Tuesday, Oct. 12, 2021. The number of Americans collecting unemployment benefits fell to a 52-year low after another decline in jobless aid applications last week.
The figures are for January and as a result do not reflect any potential impact from Russia's invasion of Ukraine, though few economists anticipate the war will reduce hiring in the immediate future. On Thursday, the government will issue its inflation report, which economists expect will show that consumer prices leapt 7.9% in February compared with a year ago, according to data provide FactSet. That would be the biggest gain in four decades.
But it can also clog up supply chains if trucking and other logistics firms can't meet demand for shipments. In other cases businesses have to turn down work for lack of employees.Wednesday's job opening report follows the release last week of national employment data for February. It showed that employersthe most in seven months. The unemployment rate fell to 3.8%, the lowest since the pandemic began, from 4% in January.
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